Utility Asset Management Market Report 2026

The utility asset management market size has grown strongly in recent years. It will grow from $5.51 billion in 2025 to $6.05 billion in 2026 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to aging utility infrastructure assets, increasing frequency of asset failures, expansion of regulated maintenance standards, rising operational efficiency requirements, early adoption of condition-based monitoring systems.

The utility asset management market size is expected to see strong growth in the next few years. It will grow to $8.78 billion in 2030 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to growing investments in digital asset management platforms, increasing adoption of ai-based maintenance analytics, rising focus on reliability-centered maintenance, expansion of smart utility networks, growing demand for real-time asset visibility. Major trends in the forecast period include increasing adoption of predictive maintenance platforms, rising deployment of asset performance management software, growing integration of iot sensors for utilities, expansion of data-driven risk management systems, enhanced focus on asset lifecycle optimization.

The increasing adoption of automation technologies is expected to drive the growth of the utility asset management market in the coming years. Automation technologies encompass a broad range of methods, processes, and systems that perform tasks with minimal human intervention. Utility asset management (PAM) supports these technologies by providing a comprehensive framework for managing and maintaining physical assets in industrial settings, thereby enhancing overall performance. For example, in April 2024, according to the International Federation of Robotics, a Germany-based international organization, manufacturing companies in the United States significantly increased their automation efforts, with total industrial robot installations rising 12% to 44,303 units in 2023. Therefore, the growing use of automation technologies is driving the expansion of the utility asset management market.

Prominent companies in the utility asset management market are actively pursuing innovation, particularly in the development of enterprise asset management solutions, to advance their market offerings. Enterprise asset management (EAM) solutions involve the comprehensive management and maintenance of a company's physical assets throughout their entire lifecycle. In November 2023, Trimble Inc., a US-based technology company, introduced Trimble Unity AMS to enhance the reliability and efficiency of electric utilities. Built on the Cityworks enterprise asset management platform, Trimble Unity AMS enables electric utilities to effectively manage their infrastructure assets from permits and construction to operations, maintenance, and replacement. The solution integrates with Esri ArcGIS, providing a centralized source of current data for decision-making and operations. This GIS-centric approach improves operational efficiency and situational awareness in electric utilities.

In October 2024, Univerus, a Canada-based software company, acquired Varasset for an undisclosed sum. This acquisition allows Univerus to strengthen its software offerings for the power and communications sectors, reaffirming its dedication to providing comprehensive asset management solutions. Varasset is a Canada-based software firm that specializes in work and asset management.

Major companies operating in the utility asset management market are Siemens AG, International Business Machines Corporation, General Electric Company, Oracle Corporation, Schneider Electric SE, SAP SE, ASEA Brown Boveri, Jacobs Solutions Inc., Emerson Electric Co., CGI Inc., John Wood Group PLC, Hexagon AB, Black & Veatch, Arcadis NV, Mott MacDonald, GHD Group Pty Ltd, Environmental Systems Research Institute, Bentley Systems, Industrial and Financial Systems, Accruent, Infor, Sensus Metering Systems.

North America was the largest region in the utility asset management market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the utility asset management market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the utility asset management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The utility asset management market consists of revenues earned by entities by providing services such as asset inventory and mapping, condition assessment, and asset lifecycle management. The market value includes the value of related goods sold by the service provider or included within the service offering. The utility asset management market also includes sales of enterprise asset management (EAM) software, geographic information system (GIS) software, and work order management systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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